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Qantas cancels $8.5B worth of Boeing 787 orders

Published: 23rd August 2012 11:38 AM  |   Last Updated: 23rd August 2012 11:38 AM   |  A+A-

Qantas_AP

Australian airline Qantas is canceling an order for 35 of Boeing's new 787 jets as it tries to cut costs.
The jets would have been worth $8.5 billion at list prices, although discounts are common on large orders.
The financially struggling airline is still buying 15 787-8s. It is also keeping options that allow it to buy as many as 50 of Boeing's longer 787-9. But it's cancelling orders for 35 of those jets.
Qantas CEO Alan Joyce says the change is part of trying to make Qantas profitable.
Boeing Co. says Qantas has been a long-standing customer and it will work with the airline to help it adapt.

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